Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Lease Agreement
Purpose: Authorize Entry into Sign Location Lease between the City of Newark and Outfront Media LLC
Entity Name: Outfront Media LLC
Entity Address: 185 US Highway 46, Fairfield, New Jersey 07004
Lease Amount: $ 21,600.00 per year and $105,000.00 in back rent
Contract Period: To commence January 1, 2026 for an initial five-year term with annual renewal for successive five-year periods.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a (Existing use on property acquired by the City)
List of Property:
(Address/Block/Lot/Ward)
15 South 14th Street/Block 1899/Lot 6/West Ward
Additional Information:
When the City acquired Block 1899, Lot 6, Outfront Media LLC was already operating an advertising sign on the property pursuant to an existing lease agreement with the prior owner, dating back to April 19, 2000.
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WHEREAS, the City of Newark, County of Essex, State of New Jersey (the “City”) is the owner of certain property identified on the tax map of the City of Newark as Block 1899, Lot 6, more commonly known as 15 South 14th Street, Newark, New Jersey 07102 (“Property”); and
WHEREAS, prior to the City’s ownership of the Property, Outfront Media LLC (“Lessee”) operated an advertising sign on a portion of the Property as shown on Exhibit A (the “Leased Premises”) pursuant to a lease agreement with the prior owner of the Property dating back to 2000; and
WHEREAS, Lessee’s operation of an advertising sign on the Leased Premises is an existing and ongoing use that has continued following the City’s acquisition of the Property; and
WHEREAS, the City agrees to allow Lessee to continue to occupy the Leased Premises for the purposes of replac...
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